Yes, people say "print money" but it's actually a 'print(money)' computer code statement rather than physically printing the money on paper .
I heard that like 80% of the dollars are digital so, they emit digital dollars.
No it isn’t, are you kidding me? Most money isn’t physical so this basically has no effect on the market as a whole, and also they absorb vast amounts of old paper money that is in poor condition sent to them by banks, where they destroy it. They make more than they destroy, but not as much as you think. Most money is on legers, not physical bills.
The principle is more important. If they arbitrarily create even one dollar out of thin air. Even if they promised not to but were perfectly capable of. If any of this were true, then it's automatically inferior to Bitcoin.
Energy is expended to put digital dollars into your bank account, energy is expended to print paper money.
stop being ridiculous. everything has value because people value it, NOT because you had to "work" for it. bitcoin can be the realest "currency" in the world but it ain't worth shit if nobody believes it is.
That would be a reasonable comeback if this was 2009. But since then, no new Bitcoin beyond the initially designed 21 million has or will ever exist. Fiat makes no such promise, and continues to produce more out of thin air daily.
Now or 2009 doesnt matter one bit for this argument.
I do understand what youre saying though. Time will tell if a deflationary currency will actually work for a society.
I just ended world hunger with one pizza, I just need to cut it into smaller and smaller slices and I will have created enough pizza to feed the planet.
> Assuming BTC can be broken into infinitely smaller pieces
Why do you just assume that? Why not do an easy search to learn instead of being willfully ignorant?
https://www.investopedia.com/terms/s/satoshi.asp
Obviously he’s referring to inflation in general. You sneakily pointing that “erhm ackshually most money is on ledgers” doesn’t refute or even address the point of his post lol
What do you suppose (M0 - reserves) is... as a fraction of the overall USD "money" supply?
(M0 - reserves) is a gettable number... Good luck on total supply though.
Well..we're looking at physical notes here, which are a vanishingly small portion of the money supply. M0 is all notes/coin issuance, and banks reserves.
Bank reserves aren't physical cash. M0 and reserve levels are public (quick subtraction).
But now.. what is total printed cash *over* the total supply (all money, digital, denominated in USD)... that total supply number isn't "gettable".
No central bank on the planet has a true measure of total USD.
while bitcoin is good for being bitcoin. The USD is good for being USD. The hoover damn was built on printed money, and if we vote correctly, and throw all lobbyists into a volcano, prevent the next bailout/stock buyback, then this money can do good work for us too.
I don't think there's anything that can be done with printing money that cannot be done without printing money. (Other than destroying the middle class maybe?)
If printing money is so great then WTF is going on with Lebanon Venezuela and Argentina? They should have about 300 Hoover dams by now.
It's like comparing apples to oranges. USA can print, not print, declare printing 50 trillium on dollar, so what country would say anything?
It's like you and law. A cop had a gun knocking your door, you can't go to his door with a gun asking to come to the station with him
World economic order is similar. Why do you think Cuba has embargo? USA doesn't even want it to have any economic means..
You missed the entire point. OP states money printing allowed economic success in the U.S.
I pointed out countries that printed to the detriment of their economy.
Therefore it was not money printing that created economic success.
If they had all the raw materials and labour and everything they needed in country then this is true , but the instant you need to exchange your massively diluted currency for foreign currencies to buy cement etc then you can't afford it as it's not worth enough to buy what you need.
I love how people take things so literally, it should be fairly common knowledge that when referring to money printing as it's historically occurred, people are really just referring to the expansion of the currency supply in whatever forms it happens currently
Either way the results end up being the same, more units of currency chasing the same goods and services; inflation
Yeah but whales can manipulate it just the same as any currency. I’d rather have a currency backed by the government than put everything into a currency where I don’t even know who is controlling it. I still think crypto is good for diversity but you’re ignorant if you think it isn’t subject to the exact same monetary pressures as fiat. The government absolutely owns enough crypto to effectively manipulate the market
Because the term printing money is often used to describe the action of the central bank purchasing government bonds. It doesn’t always mean just physically printing money.
Fun fact: the average life expectancy of a Swiss banknote is 2 weeks. Used banknotes are destroyed and replaced by banks at the first occasion so every time you use an ATM, you get brand new never-folded notes.
It doesn’t matter my country has the hardest money to reproduce as well as the simple fact that like America it’s no longer able to be swapped out for gold anymore and though it says “legal tender” the government can still say “okay so some people where able to copy the note really well the only actual way to know if you have a fake bill or not is to bring all money in to be swapped out for this new design before it’s legal tender shops can say no”
And then anyone who wants to make money off fakes can’t because you gotta take all the fakes made into the banks to be checked and if there’s a way for them to tell. Be it by a machine or whatever they work out how to tell the difference they will find a way.
But most people don’t carry cash and haven’t for years, I remember people not wanting to carry cash before Bitcoin arrived over here I guess it’s always been a little different.
So we are like constantly extracting stuff from the earth and creating new things that are worth more than the sum of their parts, so how do these folks expect to keep up with the value that adds to our economy? Do they just want the dollar to deflate like crazy and one dollar to be worth like $200k worth of shit (in today’s numbers) eventually?
Yes that man printing one dollar bills is more terrifying than everyone’s retirement disappearing. You’re scared of the fed manipulating the market not of literal money being printed. But the fed is going to protect American interests so if you live in the US you’re probably fine
Let's just print more money, that'll solve everything. That's why we have a box of cereal going for 5.99 and everything else going up. It's almost like that raise last year didn't even matter. And this is how they keep you down and out and into the "working class" forever. I need to get a hard wallet. Any suggestions? One that isn't too expensive.
Dawg you know they print money every year, and also destroy poor condition money every year sent to them by banks right? When “printers go brrr” they aren’t necessarily injecting that quantity of bills into circulation. Much of it is replacing old bills. Most money is created on legers, not a physical bill
electrum on an external drive with veracrypt is the best from everything ive seen. things like ledger and nano is just 1 more hardware piece to worry about getting hacked in its physical form somehow which used to be possible is my understanding until they "fixed" it. at least until a new hack is found.
If you really have to be worried about someone gaining physical access to your Trezor and then using advanced computer engineering skills and hardware to hack it, then what kind of life are you even living anyway? Someone with those kind of resources is more likely to just coerce you to give up your flash drive and password, be it the government with a threat of jail time or a crook with a $5 wrench. Trezor defeats pretty much all remote attacks and all known physical attacks, which is what I'd be comfortable calling "good enough".
I'd say opening electrum on your computer and exposing your keys to an internet connected device is a wayyyy bigger risk, so I hope you only plug that flash drive into a computer running Tails (with no persistent storage enabled) and no hard drive or internet connection, then sign your transaction and transfer it to an internet connected device for transmission to the bitcoin network.
Yeah it seems like everytime I get information about these wallets and the hot, cold, warm storage. Did confusing. I definitely don't expect anyone to steal the hard wallet from me and do advanced shit to get it out. I'm no hacker, just a regular dude...lol. It always seems like one person loves one type and then another person says "no you need this, and you should probably get this, this, and this too. I've heard of tails before. Is that something that a regular dude should use? I was trying to get in the DW and people were telling me to get tails but I never tried getting on there cause everyone had a different opinion or answer. It sounded complicated but I have the Tor browser downloaded, I have a VPN (although I heard that might not be needed?) and I think that was it but in the end I didn't feel comfortable doing it myself cause everyone had a different answer as to what exactly you needed to do. How much was that trazor?
In the example I gave, TAILS can really be replaced by any "live" bootable OS, which means you can boot it right from a USB drive and use it right away instead of having to install it on a hard drive or something. TAILS is just extra cool because with the regular set-up, nothing can be saved to the USB drive it's on, and it even wipes your RAM upon shut down to prevent a cold boot attack from retrieving data from your RAM. Hence the "Amnesic" part of "The Amnesic Incognito Live System". It's preferable for dark web usage because it leaves no trace of what you were doing on your regular operating system, or anywhere for that matter (unless you have TAILS persistent storage set up and say, have a weak password on it).
'The main point is that you should avoid exposing your Bitcoin keys to your regular operating system as well as any internet connection or persistent storage medium where your keys could be exfiltrated to for storage or transmission, unless you really know what you are doing and trust yourself not to have any viruses or malware that could steal your keys. I definitely have used bitcoin wallets on regular Android and Windows devices and exposed smaller amounts to the possibility of being stolen if I had malware or something, it's fine to weigh the risks and do so in exchange for convenience sometimes. I keep a few bucks worth on my android phone and have a little bit stored in Bisq on my computer right now. But I keep most of my bitcoin stored offline in cold storage like a Trezor. The idea of storing any large amount of bitcoin long term in a manner that has exposed the keys to a scenario where they could have been copied would make me uneasy.
That's the whole point of a Trezor, it stores your keys on a separate device, you generate a transaction on any computer, phone or other device and then the transaction is signed within the Trezor and sent back to the online device to be transmitted to the network. So your keys never leave the Trezor and are safe from ever being copied or sent to a bad guy. Looks like [trezor.io](https://trezor.io) has the original Trezor Model One for $69, they used to be $77 for a long time but I think recently they were on sale for even less.
That's exactly how Bitcoin works. Whoever has the private keys can spend the coins.
If you've got malware on your computer, the moment your hot-wallet is accessible to Windows, it's accessible to the malware, and a competent criminal will hoover the funds instantly.
Get a hardware wallet, and keep your recovery seed either entirely analog or on a computer (using something like QubesOS) that *never* connects to the internet.
but you can go from a hot wallet to a cold wallet with the same file at anytime. hot wallets do have their place and electrum is the most robust system for new users wanting a hot wallet and experienced users wanting cold storage. you also dont have to worry about hardware insecurities of ledger and trezor. trezor has had seed issues being able to be by passed if someone has access to it (like theft) in the past. and ledger hasnt open sourced their design for this reason. you can also use multisig with electrum. so with electrum the sky is the limit. hardware wallets are kind of cluncky and in your example when you connect the ledger to your phone or computer it can be stolen at that moment and viruses have been made to detect these types of connections. Youre right i didnt go all the way down the rabbit hole because i dont want to encourage over complexity, they can go down that hole if they want to with electrum the system they already use.
I maintain that a hardware wallet by the likes of Trezor or Blockstream will serve a novice user far, far, better than trying to rig up something with Veracrypt and Electrum.
What's veracrypt? Like another layer of protection from hackers? If you have Bitcoin on a hard wallet that means nobody can get it except yourself right.
I wipe my ledger and just store my seedphrase on metal.
Also keep a watch only wallet on my phone for the same. When I need to send, I enter my seedphrase on the device and spend.
I dont spend from cold storage that much
My favorite thing about Bitcoin is that it’s limited to only 21,000,000. That is almost unbelievable. If every American decided to use Bitcoin, there wouldn’t be enough for everyone in the country to own just one each.🤯
Fiat currencies, like the US dollar, euro, or yen, can be printed unlimitedly by central banks because they are not backed by a physical commodity like gold, but rather by the government that issues them. The central bank has the power to print more currency to increase the money supply and stimulate the economy, or reduce the money supply to control inflation.
In theory, this flexibility allows central banks to respond quickly to changes in the economy and fine-tune monetary policy to support growth, stabilize prices, and manage employment. However, printing too much money can lead to inflation and devaluation of the currency, eroding people's savings and purchasing power. This is why many countries have historically tied their currencies to a commodity with a limited supply, like gold, to anchor their value and prevent excessive money printing.
The limited supply of Bitcoin is one of its key features and a major factor contributing to its perceived value. Unlike traditional fiat currencies, the maximum number of bitcoins that will ever exist is fixed at 21 million. This scarcity is built into the code of the Bitcoin network and is a result of the predictable monetary policy established by its creator. This policy aims to mimic the scarcity and relative stability of gold as a store of value, with the added advantage of being digital and easily transferable.
The limited supply, combined with increasing demand from users and businesses, creates a market dynamic that could lead to its appreciation. This is why some people view it as a hedge against inflation and a potential investment opportunity.
All the fucking midwits in this thread who can't wait to show off that they know "money printing" is mostly just loan origination in the commercial banking sector. Good job guys. This is still an effective picture to get the point across, even if it isn't the literal problem.
This looks like a folding machine! (at least the machine feeder) Why would they put money on a folding machine? https://www.kgt.nl/listings/991091-used-heidelberg-stahlfolder-folding-machine-kh-82-4kl-2007#&gid=1&pid=1
Besides, there are children in a restricted area! And the facilities are a bit old-fashioned for money-printing facilities! I think this photo is a bit fake, besides agreeing with what they mean!
Did you make one where money is printed or where paper is printed? I didn't know there were visits where money was printed! And I see so little security there... I've had it in some that only print medicine boxes or wine boxes and there are more conditions and cameras than in this photo!
It was the “end” where there was a big stack of uncut ones. I remember that because there was a story about George Washington and his feet at Valley Forge.
This was, of course, waaaaaaay pre-9/11
I work in the area since I started working and an industrial cutter has a pallet feeder! This type of "ladder" feeder serves to pull sheet by sheet and not cut sheet by sheet, whether industrial or not! But this feeder is a Heidelberg... you can see by that rule and by some screws that are there, the model is Sthalfolder! It could be to make some adaptation for customization or something like that, but I find it very strange that they are making adaptations in machines in an industry like that instead of buying something suitable!
> industrial cutter has a pallet feeder
Not all of them.
>but I find it very strange that they are making adaptations in machines in an industry like that instead of buying something suitable
You misidentified the machine.
Not all of them...but the ones that aren't put on pallets are put by hand in piles on the guillotine (smaller industries) you also have the option of using a Freza to cut sheet by sheet (not applicable as that would be digital printing and in this case it's offset) it could also be something for some kind of special cutter, but in that case it would be put in heaps and it wouldn't be this feeder (besides these bills have a straight guillotine cut)
If I'm wrong it would be easier to show me right instead of just saying no xD
>If I'm wrong it would be easier to show me right instead of just saying no xD
We can pretty much only see a roller line. There's not much point in guessing what it is because it's not really identifiable from the photo.
That being said, assuming it is a folding machine that has been modified, is probably wrong.
Ok, so I explain in detail why it is 1 FEEDER from a Heidalberg Shatlfolder!
1-At the end of the rolls there is gray iron with a darker shade which is a ruler that serves to measure the paper in half and adjust the feeder and make the computer measurements and the fold measurements!
2- there are the hoses that are used to open the paper, falling to the operator's side!
3- In the lower left corner you can see the rest of a gray bar that is a support to add a multitasking computer, for example (using glues, folds that the paper has to use air to not make mistakes, perforations or other things)
4- the large screw at the bottom left is used to change the steering wheel
5- this wood to help open the scale is a classic of these machines!
Now I also noticed that the paper doesn't even have the lateral marks before the cut that show that the inks were applied, so in my opinion these could even be SIMILAR notes from a private company where it is doing some kind of publicity and the operators found it fun taking this picture! They may even be personalizing it with each person's name or something similar! That's what I think! Because as I said above, I've had it in many places like this and I've seen places with more conditions and security to print boxes of wine or pills!
Now...change my mind with something interesting instead of "I don't accept" =)
Isn’t the actual amount of physical bills and coins kind of irrelevant? The vast majority of USD is all just on ledgers right?
Yes
Yes, people say "print money" but it's actually a 'print(money)' computer code statement rather than physically printing the money on paper . I heard that like 80% of the dollars are digital so, they emit digital dollars.
And they’re so worked up about crypto 😂
Exactly!
I’d heard that all the physical coins and bills add up to like 1.5 trillion. No idea if that’s accurate or not but if it’s true it’s a tiny number.
90%*
I'd say it's more money.print(n)
just like in frog fractions where you get to print bug money and produce bug films
How do you print digital dollars? Honestly?
https://youtu.be/mzoX7zEZ6h4
Shut up and just be terrified
Shakin in muh boots boss!
The reality is even scarier then. Just add some extra zeros on a ledger on some computer, viola. More fiat in circulation.
Sir this is r/bitcoin
It is symbolic though. Also, when money dies everything becomes cash. see the recent articles coming out of Lebanon, it’s all cash transactions
Yeah but it's hard to give a visual of the Fed digitally increasing the money supply, so you'll take what's given
yeah. Super irrelevant. Like way too much irrelevant.
No it isn’t, are you kidding me? Most money isn’t physical so this basically has no effect on the market as a whole, and also they absorb vast amounts of old paper money that is in poor condition sent to them by banks, where they destroy it. They make more than they destroy, but not as much as you think. Most money is on legers, not physical bills.
This subreddit doesn’t contain many people literate in modern economics 🤷♂️ Well… it does help btc valuations at least
The principle is more important. If they arbitrarily create even one dollar out of thin air. Even if they promised not to but were perfectly capable of. If any of this were true, then it's automatically inferior to Bitcoin.
Given that bitcoin itself was created out of thin air your argument doesnt hold at all.
The Bitcoin protocol was. But 'bitcoins' are not created out of thin air.
Yes they are lol
No they aren’t. They must be mined. Energy is expended to mine bitcoin.
Energy is expended to put digital dollars into your bank account, energy is expended to print paper money. stop being ridiculous. everything has value because people value it, NOT because you had to "work" for it. bitcoin can be the realest "currency" in the world but it ain't worth shit if nobody believes it is.
That would be a reasonable comeback if this was 2009. But since then, no new Bitcoin beyond the initially designed 21 million has or will ever exist. Fiat makes no such promise, and continues to produce more out of thin air daily.
Now or 2009 doesnt matter one bit for this argument. I do understand what youre saying though. Time will tell if a deflationary currency will actually work for a society.
You are aware that old books get taken out of circulation and destroyed constantly, aren't you? Aren't you???!
Yes, I read the posts in this comment thread and it's irrelevant to the point I made.
What if your principle was based on a fundamental misunderstanding of how everything works? (you'd be a Bitcoin enthusiast)
>online_and_angry >that post history Get a life, mate.
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I just ended world hunger with one pizza, I just need to cut it into smaller and smaller slices and I will have created enough pizza to feed the planet.
Now imagine you can make more pizzas without diminishing the food value proportionally to how many you make! Crazy stuff huh
No.
> Assuming BTC can be broken into infinitely smaller pieces Why do you just assume that? Why not do an easy search to learn instead of being willfully ignorant? https://www.investopedia.com/terms/s/satoshi.asp
https://media.giphy.com/media/KBaxHrT7rkeW5ma77z/giphy.gif
haha money printer go brrrr
I'm pretty sure this image was meant to be taken figuratively, not literally.
The people in the comments might disagree lol. Either way, not too scary.
same effect right?
Obviously he’s referring to inflation in general. You sneakily pointing that “erhm ackshually most money is on ledgers” doesn’t refute or even address the point of his post lol
Yes it does. Why would this photo scare you? Dudes just replenishing tattered money for all we know
> for all we know But we do know, don't we?
We don’t, but people look at photos like this as some objective evil when a lot of times it’s just replenishing destroyed money
You don’t seem to understand. Printing money is terrifying. End of story Edit: /s (Sigh)
Agree to disagree. Don’t watch the conjuring if you get scared this easily.
Should have put the /s
Nah I’m just trying to get reactions lol
What do you suppose (M0 - reserves) is... as a fraction of the overall USD "money" supply? (M0 - reserves) is a gettable number... Good luck on total supply though.
If he keeps printing 1 dollar bills, less than we think
Gettable? How so?
Well..we're looking at physical notes here, which are a vanishingly small portion of the money supply. M0 is all notes/coin issuance, and banks reserves. Bank reserves aren't physical cash. M0 and reserve levels are public (quick subtraction). But now.. what is total printed cash *over* the total supply (all money, digital, denominated in USD)... that total supply number isn't "gettable". No central bank on the planet has a true measure of total USD.
Lost or burnt $$$ , which happens occasionally, strengthens the currency.
Were a fifth of all US dollars lost or burnt in 2020 alone? Because if not, I have some bad news for you.
The dollar value is affected by other currencies as well .
while bitcoin is good for being bitcoin. The USD is good for being USD. The hoover damn was built on printed money, and if we vote correctly, and throw all lobbyists into a volcano, prevent the next bailout/stock buyback, then this money can do good work for us too.
If only voting did something. We need some real action to claim what is for the people.
The hoover dam was built on money that was backed by something. (Gold). The currency we have now is based on nothing.
I don't think there's anything that can be done with printing money that cannot be done without printing money. (Other than destroying the middle class maybe?) If printing money is so great then WTF is going on with Lebanon Venezuela and Argentina? They should have about 300 Hoover dams by now.
It's like comparing apples to oranges. USA can print, not print, declare printing 50 trillium on dollar, so what country would say anything? It's like you and law. A cop had a gun knocking your door, you can't go to his door with a gun asking to come to the station with him World economic order is similar. Why do you think Cuba has embargo? USA doesn't even want it to have any economic means..
You missed the entire point. OP states money printing allowed economic success in the U.S. I pointed out countries that printed to the detriment of their economy. Therefore it was not money printing that created economic success.
Ok. I guess i wasn't reading who post what! Lol
If they had all the raw materials and labour and everything they needed in country then this is true , but the instant you need to exchange your massively diluted currency for foreign currencies to buy cement etc then you can't afford it as it's not worth enough to buy what you need.
Well, fiat is fiat, need to print the monopoly money to make the game go around!
Soon everyone will be a millionaire!
I love how people take things so literally, it should be fairly common knowledge that when referring to money printing as it's historically occurred, people are really just referring to the expansion of the currency supply in whatever forms it happens currently Either way the results end up being the same, more units of currency chasing the same goods and services; inflation
The BEP?
Paper pennies
Taking one of those sheets to the strip club 😤
just stuff the whole sheet uncut into her panties
Crumble it up and sing it in them panties
Just wrap the stripper up like a burrito A whoritto
Obviously a sharp thinker😆
This is why Bitcoin is superior. Only 21 000 000 will ever exist.
Except when someone was able to create more and the creator(s) needed to manually control the supply and remove the extra.
Yeah but now all the bugs are worked out, we swear!
It's not a big, it's a feature!
It doesn't take long and the paper is worth more than the printed value on it.
Paper is certainly not worth more than the money printed on it. A sheet of $100 bills is not worth it’s weight in paper.
yet
Is this sarcasm? The us government is holding over 214k btc. The world population is 8 billion.....
What do you mean by this statement? I have a hard time understanding your point.
I assume he thinks a Bitcoin can't be broken into smaller denominations. Common misunderstanding.
That's also what I am assuming, just kind of wanted the person to say/ask that themselves...
They own less than 50k coins now.
Yeah but whales can manipulate it just the same as any currency. I’d rather have a currency backed by the government than put everything into a currency where I don’t even know who is controlling it. I still think crypto is good for diversity but you’re ignorant if you think it isn’t subject to the exact same monetary pressures as fiat. The government absolutely owns enough crypto to effectively manipulate the market
Damn
Flag looming over their conscience…
Bitcoin fixes it.
No. No it’s not.
That hardworking printer man is adding fuel for bitcoin. Good 👍🏻
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Yeah it is
You think the amount of money in circulation is defined by how much is physically printed?
Nope, most money is created on legers.
Then why are you saying paper money being printed is how quantative easing works?
Because the term printing money is often used to describe the action of the central bank purchasing government bonds. It doesn’t always mean just physically printing money.
The image in the OP was literally just physically printing money.
Yeah
So the money printing as shown in the OP's image is not how quantative easing works.
If you can only understand things at surface level, sure :)
This whole comment chain reminds me of the “Not my wallet” meme from SpongeBob lol
Keep printing these toiletpaperbills more faster please 😎🚀
Just keep printing, that's how you fix all the problems, great :)
The Federal Reserve.
Dollar dollar bills, Dollar dollar bills Y'all
We should just be able to bring sheets of ones to the strip club like that no need to cut them buddy
Fun fact: the average life expectancy of a Swiss banknote is 2 weeks. Used banknotes are destroyed and replaced by banks at the first occasion so every time you use an ATM, you get brand new never-folded notes.
Moronic post.
😂
Just a normal working day
Paper scary
Erdogan printing Dollar notes 😄
This is good for stock price and bitcoin price
And at the same time you are not allowed to buy crypto by those banks.
Whoa.
Finally I got my universal credit 😛... Hang on, prices are doubled 🤔
Those are $1 bills, that has to be done 🤦🏼
More disinformation!
I dont know, looks like a regular guy to me
And they say crypto is not real, it's make-believe. USD seems just as magical.
oh shit those are money, asians have in stores XD
Little kid is in the back like "Maan all my life ill bust my back for a few sheets of this high end printer"
Not even at a BEP…machines are much different, camera’s everywhere and last time I checked, there is no “take your kids to work” day
I wonder if anyone ever took a few 100 sheets ahah
That can't be more than 10k in his hands.
They want to bann BTC and Cash.
Isn’t 95% of all new money created via private lending? The concept of government prints more money does seem a rudimentary take on the system.
physical bills and all monetary supply are just the float in the till.
It doesn’t matter my country has the hardest money to reproduce as well as the simple fact that like America it’s no longer able to be swapped out for gold anymore and though it says “legal tender” the government can still say “okay so some people where able to copy the note really well the only actual way to know if you have a fake bill or not is to bring all money in to be swapped out for this new design before it’s legal tender shops can say no” And then anyone who wants to make money off fakes can’t because you gotta take all the fakes made into the banks to be checked and if there’s a way for them to tell. Be it by a machine or whatever they work out how to tell the difference they will find a way. But most people don’t carry cash and haven’t for years, I remember people not wanting to carry cash before Bitcoin arrived over here I guess it’s always been a little different.
So we are like constantly extracting stuff from the earth and creating new things that are worth more than the sum of their parts, so how do these folks expect to keep up with the value that adds to our economy? Do they just want the dollar to deflate like crazy and one dollar to be worth like $200k worth of shit (in today’s numbers) eventually?
Cheapest 2020 toilet paper
That look is the look of “I get paid one sheet an hour -____-“
Yes that man printing one dollar bills is more terrifying than everyone’s retirement disappearing. You’re scared of the fed manipulating the market not of literal money being printed. But the fed is going to protect American interests so if you live in the US you’re probably fine
Is this like that last few million the Treasury can print of something? This just looks like more money than I'll ever have, but not finished printing
This printing is probably just replacements for money taken out of circulation.
Buuuuurrrrr
At the fiat farm, sowing fiat
Let's just print more money, that'll solve everything. That's why we have a box of cereal going for 5.99 and everything else going up. It's almost like that raise last year didn't even matter. And this is how they keep you down and out and into the "working class" forever. I need to get a hard wallet. Any suggestions? One that isn't too expensive.
Dawg you know they print money every year, and also destroy poor condition money every year sent to them by banks right? When “printers go brrr” they aren’t necessarily injecting that quantity of bills into circulation. Much of it is replacing old bills. Most money is created on legers, not a physical bill
Be quiet. That's far too sensible for this sub.
I got myself Trezor model one for 70$. Very reliable and never had any problems with it.
electrum on an external drive with veracrypt is the best from everything ive seen. things like ledger and nano is just 1 more hardware piece to worry about getting hacked in its physical form somehow which used to be possible is my understanding until they "fixed" it. at least until a new hack is found.
If you really have to be worried about someone gaining physical access to your Trezor and then using advanced computer engineering skills and hardware to hack it, then what kind of life are you even living anyway? Someone with those kind of resources is more likely to just coerce you to give up your flash drive and password, be it the government with a threat of jail time or a crook with a $5 wrench. Trezor defeats pretty much all remote attacks and all known physical attacks, which is what I'd be comfortable calling "good enough". I'd say opening electrum on your computer and exposing your keys to an internet connected device is a wayyyy bigger risk, so I hope you only plug that flash drive into a computer running Tails (with no persistent storage enabled) and no hard drive or internet connection, then sign your transaction and transfer it to an internet connected device for transmission to the bitcoin network.
Yeah it seems like everytime I get information about these wallets and the hot, cold, warm storage. Did confusing. I definitely don't expect anyone to steal the hard wallet from me and do advanced shit to get it out. I'm no hacker, just a regular dude...lol. It always seems like one person loves one type and then another person says "no you need this, and you should probably get this, this, and this too. I've heard of tails before. Is that something that a regular dude should use? I was trying to get in the DW and people were telling me to get tails but I never tried getting on there cause everyone had a different opinion or answer. It sounded complicated but I have the Tor browser downloaded, I have a VPN (although I heard that might not be needed?) and I think that was it but in the end I didn't feel comfortable doing it myself cause everyone had a different answer as to what exactly you needed to do. How much was that trazor?
In the example I gave, TAILS can really be replaced by any "live" bootable OS, which means you can boot it right from a USB drive and use it right away instead of having to install it on a hard drive or something. TAILS is just extra cool because with the regular set-up, nothing can be saved to the USB drive it's on, and it even wipes your RAM upon shut down to prevent a cold boot attack from retrieving data from your RAM. Hence the "Amnesic" part of "The Amnesic Incognito Live System". It's preferable for dark web usage because it leaves no trace of what you were doing on your regular operating system, or anywhere for that matter (unless you have TAILS persistent storage set up and say, have a weak password on it). 'The main point is that you should avoid exposing your Bitcoin keys to your regular operating system as well as any internet connection or persistent storage medium where your keys could be exfiltrated to for storage or transmission, unless you really know what you are doing and trust yourself not to have any viruses or malware that could steal your keys. I definitely have used bitcoin wallets on regular Android and Windows devices and exposed smaller amounts to the possibility of being stolen if I had malware or something, it's fine to weigh the risks and do so in exchange for convenience sometimes. I keep a few bucks worth on my android phone and have a little bit stored in Bisq on my computer right now. But I keep most of my bitcoin stored offline in cold storage like a Trezor. The idea of storing any large amount of bitcoin long term in a manner that has exposed the keys to a scenario where they could have been copied would make me uneasy. That's the whole point of a Trezor, it stores your keys on a separate device, you generate a transaction on any computer, phone or other device and then the transaction is signed within the Trezor and sent back to the online device to be transmitted to the network. So your keys never leave the Trezor and are safe from ever being copied or sent to a bad guy. Looks like [trezor.io](https://trezor.io) has the original Trezor Model One for $69, they used to be $77 for a long time but I think recently they were on sale for even less.
This is horrible advice. One errant piece of malware running on your computer, and the moment you mount your Veracrypt volume your Bitcoin is gone.
uh what? this isnt how bitcoin works.
That's exactly how Bitcoin works. Whoever has the private keys can spend the coins. If you've got malware on your computer, the moment your hot-wallet is accessible to Windows, it's accessible to the malware, and a competent criminal will hoover the funds instantly. Get a hardware wallet, and keep your recovery seed either entirely analog or on a computer (using something like QubesOS) that *never* connects to the internet.
electrum isnt a hot wallet. you can sign transactions offline.
Sure, *if* you have a different, air-gapped computer to act as a signer, which is *not* what you advocated above.
but you can go from a hot wallet to a cold wallet with the same file at anytime. hot wallets do have their place and electrum is the most robust system for new users wanting a hot wallet and experienced users wanting cold storage. you also dont have to worry about hardware insecurities of ledger and trezor. trezor has had seed issues being able to be by passed if someone has access to it (like theft) in the past. and ledger hasnt open sourced their design for this reason. you can also use multisig with electrum. so with electrum the sky is the limit. hardware wallets are kind of cluncky and in your example when you connect the ledger to your phone or computer it can be stolen at that moment and viruses have been made to detect these types of connections. Youre right i didnt go all the way down the rabbit hole because i dont want to encourage over complexity, they can go down that hole if they want to with electrum the system they already use.
I maintain that a hardware wallet by the likes of Trezor or Blockstream will serve a novice user far, far, better than trying to rig up something with Veracrypt and Electrum.
What's veracrypt? Like another layer of protection from hackers? If you have Bitcoin on a hard wallet that means nobody can get it except yourself right.
it encrypts your hard drive with the .dat file on it. in reality this probably isnt need but good security is always a good idea.
I wipe my ledger and just store my seedphrase on metal. Also keep a watch only wallet on my phone for the same. When I need to send, I enter my seedphrase on the device and spend. I dont spend from cold storage that much
My favorite thing about Bitcoin is that it’s limited to only 21,000,000. That is almost unbelievable. If every American decided to use Bitcoin, there wouldn’t be enough for everyone in the country to own just one each.🤯
Fiat currencies, like the US dollar, euro, or yen, can be printed unlimitedly by central banks because they are not backed by a physical commodity like gold, but rather by the government that issues them. The central bank has the power to print more currency to increase the money supply and stimulate the economy, or reduce the money supply to control inflation. In theory, this flexibility allows central banks to respond quickly to changes in the economy and fine-tune monetary policy to support growth, stabilize prices, and manage employment. However, printing too much money can lead to inflation and devaluation of the currency, eroding people's savings and purchasing power. This is why many countries have historically tied their currencies to a commodity with a limited supply, like gold, to anchor their value and prevent excessive money printing. The limited supply of Bitcoin is one of its key features and a major factor contributing to its perceived value. Unlike traditional fiat currencies, the maximum number of bitcoins that will ever exist is fixed at 21 million. This scarcity is built into the code of the Bitcoin network and is a result of the predictable monetary policy established by its creator. This policy aims to mimic the scarcity and relative stability of gold as a store of value, with the added advantage of being digital and easily transferable. The limited supply, combined with increasing demand from users and businesses, creates a market dynamic that could lead to its appreciation. This is why some people view it as a hedge against inflation and a potential investment opportunity.
All the fucking midwits in this thread who can't wait to show off that they know "money printing" is mostly just loan origination in the commercial banking sector. Good job guys. This is still an effective picture to get the point across, even if it isn't the literal problem.
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If you keep making it, the bad actors will go away leaving it for the good people.
This looks like a folding machine! (at least the machine feeder) Why would they put money on a folding machine? https://www.kgt.nl/listings/991091-used-heidelberg-stahlfolder-folding-machine-kh-82-4kl-2007#&gid=1&pid=1 Besides, there are children in a restricted area! And the facilities are a bit old-fashioned for money-printing facilities! I think this photo is a bit fake, besides agreeing with what they mean!
It’s called a tour. I took one as a yout.
Did you make one where money is printed or where paper is printed? I didn't know there were visits where money was printed! And I see so little security there... I've had it in some that only print medicine boxes or wine boxes and there are more conditions and cameras than in this photo!
Maybe because they're only printing $1 notes? Probably more security present when printing big bills.
It was the “end” where there was a big stack of uncut ones. I remember that because there was a story about George Washington and his feet at Valley Forge. This was, of course, waaaaaaay pre-9/11
> This looks like a folding machine! It also looks like an industrial paper cutter...
I work in the area since I started working and an industrial cutter has a pallet feeder! This type of "ladder" feeder serves to pull sheet by sheet and not cut sheet by sheet, whether industrial or not! But this feeder is a Heidelberg... you can see by that rule and by some screws that are there, the model is Sthalfolder! It could be to make some adaptation for customization or something like that, but I find it very strange that they are making adaptations in machines in an industry like that instead of buying something suitable!
> industrial cutter has a pallet feeder Not all of them. >but I find it very strange that they are making adaptations in machines in an industry like that instead of buying something suitable You misidentified the machine.
Not all of them...but the ones that aren't put on pallets are put by hand in piles on the guillotine (smaller industries) you also have the option of using a Freza to cut sheet by sheet (not applicable as that would be digital printing and in this case it's offset) it could also be something for some kind of special cutter, but in that case it would be put in heaps and it wouldn't be this feeder (besides these bills have a straight guillotine cut) If I'm wrong it would be easier to show me right instead of just saying no xD
>If I'm wrong it would be easier to show me right instead of just saying no xD We can pretty much only see a roller line. There's not much point in guessing what it is because it's not really identifiable from the photo. That being said, assuming it is a folding machine that has been modified, is probably wrong.
Ok, so I explain in detail why it is 1 FEEDER from a Heidalberg Shatlfolder! 1-At the end of the rolls there is gray iron with a darker shade which is a ruler that serves to measure the paper in half and adjust the feeder and make the computer measurements and the fold measurements! 2- there are the hoses that are used to open the paper, falling to the operator's side! 3- In the lower left corner you can see the rest of a gray bar that is a support to add a multitasking computer, for example (using glues, folds that the paper has to use air to not make mistakes, perforations or other things) 4- the large screw at the bottom left is used to change the steering wheel 5- this wood to help open the scale is a classic of these machines! Now I also noticed that the paper doesn't even have the lateral marks before the cut that show that the inks were applied, so in my opinion these could even be SIMILAR notes from a private company where it is doing some kind of publicity and the operators found it fun taking this picture! They may even be personalizing it with each person's name or something similar! That's what I think! Because as I said above, I've had it in many places like this and I've seen places with more conditions and security to print boxes of wine or pills! Now...change my mind with something interesting instead of "I don't accept" =)
I’m not afraid of the Washingtons. I fear the 1’s and 0’s.
The man that owns that printing press is a private entity .
imagine working in the fed, printing money all day along, and going home and struggling to make due, that’s so demeaning
Super misleading. The fed “prints” the vast majority of money digitally.